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Technical analysis >  FOREX COMMENTARY 13.08.2004
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*profi-forex*



Joined: 10 Apr 1980
Posts: 0

PostPosted: Fri Aug 13, 2004 2:54 pm    Post subject: quote

13.08.2004 (4:23am US Time)


TODAY`S DATA:
050 EUR - GBP q/q (Q2 Prelim)PREV.0.6% FOR.0.6%

08:30 USD PPI m/m (Jul) PREV. -0.3% FOR. 0.2%

08:30 USD PPI y/y (Jul) PREV. 4.0% FOR. 4.2%

08:30 USD PPI Core m/m (Jul) PREV. 1.8% FOR. 1.8%

08:30 USD PPI Core y/y (Jul) PREV. 0.4% FOR. 0.5%

08:30 USD Trade Balance (Jun) PREV. -$46.0b FOR. -$47.0b

08:30 CAD Manufacturing Shipments m/m (Jun)PREV. 1.1%FOR. 0.5%

08:30 CAD Trade Balance (Jun)PREV. C$5.2 FOR. C$5.5

09:50 USD UMich Consumer Confidence (Aug Prelim) )PREV. 96.7 FOR. 97.2




USD/JPY (CURRENT LEVEL 111.87) - DURING JAPANESE SESION WORST THEN EXPECTED JAPANESE DATA + VERY HIGH BRENT PRICES WEAKED JPY TO 112.07 REGION. POSITIVE SCENARIO FOR BULLS WILL BE TODAY`S CLOSE ABOVE 112.45. IF IT NOT HAPPEND WE STILL HAVE POSIBILITY TO FALLS TO 110.00 AND LATER TO 107.00 REGION.

EUR/USD (CURRENT LEVEL 1.2199) - THIS PAIR TESTED YESTERDAY 1.2300 REGION. THIS RESISTANCE HOLD. NOW WE ARE TESTING SUPPORT AT 1.2170/1.2200. ON THIS REGION WE HAVE CHANCE TO FALLS AND TO RISES (50/50). TODAY`S CLOSE DEPEND ON US DATA AND WARRIED ABOUT TERRORISM ATTACK ON THE WEEKEND. SCENARIO: WEAK US DATA + WARRIED ABOUT TERRORISM ATTACK + HIGH BRENT PRICES = EUR/USD ABOVE 1.2350.

USD/CHF (CURRENT LEVEL 1.2585) - THIS PAIR IS STILL BELOW 1.2640 REGION. SO EUR/CHF IS BEARISH NOW AND IF EUR/USD SUPPORTS HOLDS WE SHOULD SEE ON USD/CHF BREAK 1.2490 SUPPORT IN A FEW DAYS.

GBP/USD (CURRENT LEVEL 1.8156) - GBP IS VERY WEAK THATS WHY WE COULD SEE TEST 1.8080 AND EVEN 1.8000 REGION. ONLY BREAKING RESISTANCE AT 1.8360/90 WILL CHANGE NEGATIVE IMAGE FOR GBP.
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